• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Bitneni

  • News
  • Bitcoin
  • Ethereum
  • XRP (Ripple)

Market-wide Recovery Commences as Bitcoin Surges Above the $20,000 Level and Ethereum Follows

Ronald Henderson/September 27, 2022News

FacebookTwitterReddit

The Bitcoin price hasn’t lived up to the expectations of investors over the last few weeks since it fell below the $20,000 level. Despite the efforts of bulls to reclaim key resistance levels, the cryptocurrency continued to struggle against the USD, falling to the $18,000 level. At the beginning of trading today, the bulls were finally able to gather the momentum required to drive the Bitcoin price back to the $20,000 level.

Bitcoin Price Analysis—Will Bitcoin Retest the $25,000 Levels?

Moving to the $25,000 level has been challenging for Bitcoin. Even when there is an uptrend, the bulls always have difficulty giving the cryptocurrency the momentum required to hold the line above $23,000. Crossing and holding the line above this resistance is crucial if the Bitcoin price is to retest $25,000.

At the time of writing, the price of Bitcoin was $20,152.65. The cryptocurrency was up 5.13% against the USD and traded in the $18,858.48 to $20,263.89 range over 24 hours. Bitcoin is still leading the cryptocurrency industry with a market capitalization of $387.44B, and it is up by 5.13% in the last seven days.

Ethereum Follows Bitcoin’s Lead

As expected, the rise in the price of Bitcoin is also influencing Ethereum. The Ethereum price seems to be approaching a key resistance at $1,389.56 before correcting lower. At the time of writing, ETH was trading at $1,385.08. The token was up 5.50% against the USD. If the key resistance is crossed, the Ethereum price will test the $1,400 level for the first time in over seven days.

All eyes have been on Ethereum since Ethereum 2.0 launched a few weeks ago. The ETH token was under a lot of bearish pressure because miners were dumping tokens into circulation. Today, however, the charts show that the bear correction may be coming to an end. The next few trading sessions will help us determine if the bulls are back for good.

Tags:Bitcoin news/ Bitcoin Price/ Bitcoin Price Analysis/ BTC News/ Ethereum/ News

FacebookTwitterReddit
Henderson

Ronald Henderson

Ronald has worked in the computer industry for 5 years when he decided to stand on his own and start his own firm, and he's never looked back. A real hard-worker and go-getter, he is a powerful leader and has made quite a name for himself in the industry. Born and raised in Pennsylvania, he still resides there with his wife and two kids, Mark and Gene. He believes that simplicity is the key to everything in life, including writing, and loves to make his content engaging and easy to understand for all audiences - even those who aren’t necessarily from a technical background.

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Finland Pledges To Donate Funds From Seized Crypto Assets To Ukrainian War Effort

Ethereum Community Celebrates Progress as Ethereum Futures Volume Surge Thanks to Upcoming Upgrade 

ETH

Ethereum (ETH) Price Pattern Shows Highest Uptrend Momentum Since 2021 Ahead of Merger

Footer

Every Bit of Internet!

  • About Us
  • Contact Us
  • Privacy Policy
  • Disclaimer
  • Terms and Conditions

Copyright © 2023

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT